FTSE 100 Live Thursday
- Lloyds profit rises
- ITV beats forecasts
- Centrica takes weather hit
Market update: Results cheer lifts FTSE 100, BT shares up 5%
10:08 , Graeme EvansBT, Howden Joinery and Reckitt Benckiser were given top billing today as the FTSE 100 index maintained its record run during a packed session for results.
London’s top flight peaked at 9121.58 before settling 55.82 points higher at 9117.31, having rallied yesterday on the back of the US-Japan trade deal.
A flurry of blue-chip results failed to dampen the mood as investors welcomed some reassuring updates, including by UK economy bellwether Lloyds Banking Group.
The lender reported a higher-than-expected profit of £3.5 billion for the first half of 2025, while it backed up its optimism with a 15% rise in interim dividend.
The shares consolidated their gains of more than 40% so far this year, sticking at 77.7p after chief executive Charlie Nunn repeated 2025 and 2026 guidance.
BT Group shares continued their strong run, adding another 5% or 9.6p to 209p after first quarter earnings of £2.05 billion came in slightly ahead of City forecasts.
Chief executive Allison Kirkby also reported record full-fibre take up in the regulated Openreach arm as she backed forecasts for this year and next.
The shares are now at a six-year high, having jumped by more than 40% this year.
The best performing stock in the FTSE 100 was Howden Joinery, up 11% or 89.5p to 925p as the kitchen supplier posted a 4.4% rise in pre-tax profit to £117.2 million.
Market share gains underpinned a 4.3% rise in adjusted sales for the period, boosting confidence ahead of the company’s peak trading period.
Household goods group Reckitt Benckiser surged 9% or 468p to 5508p after upgrading like-for-like net revenues guidance for 2025.
The group, whose brands include Strepsils, Nurofen, Dettol and Durex, reported a better-than-expected first half performance after core net revenues lifted 4.2%.
Among other companies reporting today, Vodafone lifted 1.5p to 84.8p and LexisNexis business Relx edged up 6p to 3901p. British Gas owner Centrica fell 1.4p to 157.35p as a weather-hit half-year performance met City expectations.
ITV was the top stock in the FTSE 250 index after cost savings helped it deliver half-year earnings stronger than market forecasts at £146 million.
The broadcaster rose 7% or 5.7p to 83.2p, placing it ahead of results-day gains of about 5% for Wickes, IG Group and AJ Bell. The mid-cap benchmark lifted 0.5% or 114.93 points to 22,128.42.
Vodafone lifts quarterly revenues, makes Three brand change
08:54 , Graeme EvansThe Three brand is to be axed for business customers following the completion of the mobile operator’s £16.5 billion UK merger with rival Vodafone.
Announcing results for the three months to the end of June, Vodafone revealed a 3.9% increase in revenues to 9.4 billion euros (£8.15 billion).
Service revenue lifted by 5.5% on an underlying basis, driven by a strong performance in Africa. The UK division reported a rise of 0.9% while the decline in the company’s biggest market of Germany improved to 3.2%.
Shares are broadly unchanged at 83.2p, up 20% this year.
Centrica earnings drop, warmer weather impacts British Gas arm
08:28 , Graeme EvansThe household supply arm of British Gas has reported a fall in half-year earnings after taking a £50 million hit from lower energy demand due to warmer weather.
The Centrica-owned group said the figure dropped to £133 million in the six months to June 30, down from £156 million a year earlier.
The wider Centrica business reported underlying earnings of £549 million, nearly half the £1.04 billion posted a year earlier.
Chief executive Chris O’Shea said: “I’m pleased with the progress we’ve made in some areas during the first half despite a challenging backdrop.” He added there was “still much more to do across the group”.
Shares fell 1.1p to 157.7p.
FTSE 100 sets new record, Reckitt Benckiser jumps 8%
08:18 , Graeme EvansThe FTSE 100 index today set a record intraday high of 9121.58 before settling 50.96 points higher at 9112.45.
In a busy session for corporate results, BT Group and Lloyds Banking Group maintained their recent progress by rising 7.5p to 206.9p and 0.7p to 78.3p respectively.
Reckitt Benckiser jumped 8% or 404p to 5444p after it upgraded revenues guidance for 2025, while Howden Joinery advanced 8% or 67p to 902.5p.
On the fallers board, the shares of British Gas owner Centrica fell 1.45p to 157.3p following the release of half-year results.
The FTSE 250 index lifted 41.75 points to 22,055.89, with ITV shares up 7% or 5.4p to 82.9 following forecast-beating interim results.
ITV beats forecasts, lifts cost savings target
07:58 , Graeme EvansITV today said half-year results came in ahead of market expectations after revenues fell 3% to £1.8 billion and earnings dropped 31% to £146 million.
The decline reflected comparisons with a strong advertising period last year, when revenues were boosted by the Euro 2024 football tournament.
ITV pointed out that total advertising revenues rose 2% on 2023’s level, a performance ahead of its guidance.
Despite uncertain economic conditions, the broadcaster now expects a better outturn for the full year.
This is driven by cost efficiencies after it announced an additional £15 million in permanent non-content cost savings, taking the total for 2025 to £45 million.
Chief executive Carolyn McCall said: "ITV is now a leaner, more digital business in a strong position to compete and succeed in a changing market.
“We have the agility and capability to make the most of new revenue opportunities while driving profitable growth, strong cash generation and attractive returns to shareholders.”
BT profit falls, full-fibre broadband rollout hits 19m
07:28 , Graeme EvansBT today reported a weaker financial performance but said its roll-out of full-fibre broadband had passed one million premises for a sixth consecutive quarter.
The build rate of 81,000 per week means it has now reached 19 million premises, including 5.2 million in rural locations.
Adjusted revenues fell 3% to £4.9 billion in the three months to 30 June as weaker handset sales in Consumer and challenging international trading offset the benefit of the full-fibre roll out in Openreach and price increases.
Pre-tax profits fell 10% to £468 million, which was primarily due to an increase in net finance costs and depreciation.
Chief executive Allison Kirkby said the company remains on track to deliver its targets for this year, next year and the end of the decade.
She added: “We're seeing strong customer demand for our next-generation broadband and mobile connectivity across all our brands, with record Openreach fibre take-up again this quarter.
“And we're delivering on our transformation, as we radically simplify our business while improving customer experience.”
BT also announced Patricia Cobian as its new chief financial officer from next year. She currently holds the same role at Virgin Media O2.
Lloyds backs guidance, lifts dividend by 15%
07:13 , Graeme EvansLloyds Banking Group today reiterated guidance for 2025 after reporting an underlying profit of £2 billion for the three months to 30 June.
The figure rose 32% on the previous quarter, reflecting a 3% increase in net income to £4.5 billion and drop in impairment charge to £133 million from £309 million.
Underlying profits for the first half of the year rose 2% to £3.56 billion. Lloyds intends to pay an interim dividend of 1.22p, representing a rise of 15% on a year ago.
Chief executive Charlie Nunn said: “We continue to make great progress in our purpose-driven strategy, building differentiated customer outcomes and delivering growth across our business as we build towards our ambitious targets for 2026.”
FTSE 100 run set to continue, Wall Street stocks higher
07:02 , Graeme EvansThe FTSE 100 index is seen continuing its record progress, with futures trading pointing to a rise of 0.4% in today’s session.
London’s top flight yesterday lifted 37.68 points to an all-time closing high of 9061.49, having earlier peaked at a record intraday level of 9080.09.
The rally followed Tuesday night’s disclosure that the US had agreed a “massive” trade deal with Japan that would include a 15% tariff on its exports.
On Wall Street, the Dow Jones Industrial Average rose 1.1% while the S&P 500 index posted another record close after lifting 0.8% to 6358.91.
In dealings after the market close, Tesla shares fell 4% and Google owner Alphabet rose 2% in response to their quarterly results.
